TrueBlue, Inc. (NYSE:TBI)‘s stock had its “hold” rating reissued by analysts at BMO Capital Markets in a research report issued to clients and investors on Friday. They currently have a $23.00 target price on the business services provider’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 3.16% from the company’s previous close.
TBI has been the subject of several other reports. Zacks Investment Research raised shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine raised shares of TrueBlue from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. BidaskClub lowered shares of TrueBlue from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Robert W. Baird restated a “hold” rating and issued a $25.00 price target on shares of TrueBlue in a research report on Friday, October 6th. Finally, TheStreet upgraded shares of TrueBlue from a “c” rating to a “b” rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $20.25.
TrueBlue (NYSE:TBI) last released its earnings results on Monday, July 31st. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. TrueBlue had a net margin of 2.27% and a return on equity of 15.18%. The business had revenue of $610.10 million during the quarter, compared to analyst estimates of $610.04 million. During the same period in the prior year, the business earned $0.54 earnings per share. The business’s quarterly revenue was down 9.3% on a year-over-year basis.
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In other news, EVP Wayne W. Larkin sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $23.00, for a total transaction of $230,000.00. Following the completion of the transaction, the executive vice president now directly owns 52,061 shares of the company’s stock, valued at approximately $1,197,403. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in TBI. First Trust Advisors LP bought a new position in shares of TrueBlue during the 1st quarter worth about $369,000. Comerica Bank lifted its holdings in TrueBlue by 3.1% during the 1st quarter. Comerica Bank now owns 46,633 shares of the business services provider’s stock valued at $1,296,000 after purchasing an additional 1,387 shares during the last quarter. Swiss National Bank lifted its holdings in TrueBlue by 2.2% during the 1st quarter. Swiss National Bank now owns 70,000 shares of the business services provider’s stock valued at $1,915,000 after purchasing an additional 1,500 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in TrueBlue during the 1st quarter valued at about $578,000. Finally, Karp Capital Management Corp bought a new position in TrueBlue during the 1st quarter valued at about $261,000. 89.82% of the stock is owned by institutional investors.
TrueBlue, Inc is a provider of specialized workforce solutions. The Company is engaged in providing staffing, on-site workforce management and recruitment process outsourcing services. The Company operates through three segments: PeopleReady, PeopleManagement and PeopleScout. Its PeopleReady segment provides blue-collar contingent staffing through the PeopleReady service line.
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